Pat, I can't figure it out either. The list of disclosed risk factors is certainly impressive (daunting?). They specifically incorporate a number of documents by reference.
<< The SEC allows us to "incorporate by reference" information that we file
with them, which means that we can disclose important information to you by
referring you to those documents. The information incorporated by reference is
an important part of this prospectus, and information that we file later with
the SEC will automatically update and supersede this information. We
incorporate by reference the documents listed below and any future filings we
will make with the SEC under Section 13(a), 13(c), 14 or 15(d) of the Securities
Exchange Act of 1934:
. Annual Report on Form 10-K for the year ended December 31, 1998;
. Quarterly Report on Form 10-Q for the quarter ended March 31, 1999;
. Quarterly Report on Form 10-Q for the quarter ended June 30, 1999;
. Quarterly Report on Form 10-Q for the quarter ended September 30, 1999;
. Current Report on Form 8-K, filed October 1, 1999 and amended on Form 8-
K/A, filed October 4, 1999;
. Current Report on Form 8-K, filed on December 13, 1999 and amended on Form
8-K/A, filed December 27, 1999; and
. The description of the common stock contained in our Registration Statement
on Form 8-A, as filed on July 20, 1998 with the SEC.>>
Free Edgar is having problems & i was unable to look at the recent 10 k. Assuming the Rogers information is contained there, they have probably covered their derriere legally.
Possible answers????
1. TERN has decided that the agreement w/ Rogers is no longer a significant risk factor because they weren't able to recognize the revenues last quarter anyway.
2. TERN has subsequently met the conditions (milestones) of the supply agreement w/ Rogers. This would allow them to recognize the revenues but seemingly still leave them exposed to significant returns of modems supplied.
3. Rogers has waived their right to return product thus removing the risk of returns.
4. Unintentional omission from the document.
5. Something is rotten in Denmark.
6-?? Reasons to esoteric for me to imagine.
Thanks to you, Pat, as always for your exceptional DD. rod
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